| Textile maker sets sights on real estate, securities business |
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(Listed Apr 29, 2008) |
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 The Thanh Cong Textile Garment-Investment-Trading Joint Stock Company (TCM) plans to expand its business into real estate and securities brokerage. It is already listed on the HCM City Stock Exchange.
Chairman Dinh Cong Hung announced at last Saturday’s shareholder meeting that construction of the Thanh Cong Tower apartment complex would begin on a 10,000 sq.m. plot in Tan Phu District before June.
Also in Tan Phu District, the construction of the 6.4. ha Thanh Cong Tower 2 is set to begin next year. It will include houses, a vocational training school, a conference centre, office buildings and a cultural centre.
Other residential projects are in the works, including Thanh Cong Tower 3 in Dist. 4, Bui Huu Nghia apartment building in Dist. 5 and a 20-ha service and commercial area in the northern Bac Ninh Province.
Based in HCM City, TCM is cooperating with several partners on a 200-ha industrial park and a 3-ha residential area in neighboring Long An Province, a 17-ha bonded warehouse at Phu My Port in Ba Ria-Vung Tau Province and a 10-ha resort in the coastal province of Phan Thiet.
The Thanh Cong General Clinic, on Thanh Cong Tower 2’s grounds, will begin operation later this quarter. It is capable of receiving 1,000 patients a day.
In May, Thanh Cong Securities Company will become a trading member of the HCM City Stock Exchange.
The company intends to issue 10 million convertible bonds with a face value of VND100,000 each to raise funds for its real estate projects this year alone.
(Nguồn: VNS)
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